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Giuliano Giacaglia
@giu
Is China’s economy slowing down?
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Syed Shah🏴☠️🌊
@syed
China’s economy is slowing down.*
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oliver
@oliverk120.eth
For sure. Real estate contributes almost a third of Chinese GDP, and is in serious trouble now (with evergrande being the tip of the iceberg)
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@risk
@risk
Think it's been at least a few quarters of declining economic growth? They didn't weather COVID-19 quite as well as the rest of the world, followed by dwindling exports and 70% of (household) wealth tied to real-estate. This is without addressing the regulatory overhang against big tech.
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Gabe
@gabewise
To be fair, ~10% CN growth was never sustainable BRI is slowing Real estate dev: Evergrande is being forced to liquidate holdings, Country Garden is missing bond payments lowest consumer confidence in 20yrs This is likely to improve the relationship between the US and CN as they try to improve domestic economy
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Patrician
@yrael
(it was at 8%, it has dropped to 7.2%, this is a bad measure. The US has been at a minus for ages)
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Holger
@holla123
Evergrande officially in liquidation and Countrygarden in deep trouble. Real estate is a biggie in China. Stock market also dropping sharply. Not sure I would call it a slowdown at this stage. Also no real clue if this has implications for US and rest of the world.
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People scientist
@z-f
Already been slowing down for the past 5 years, and everyone feels it in China
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Mingyan
@mingyan
I still feel strong consumption and growth in Shenzhen (also a city hub with lots of Chinese crypto degens 🫡🙏🏻
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Jasonthewhale
@jasonthewhale
Not just slowing down, it’s dying.
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Cryptoboy.eth
@domainsale
For sure, it started with Evergrand having issues
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